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PROFIT AND LOSS NARRATIVE <br /> September 2014 <br /> As requested, we have a different column in this month's financials. The far right <br /> column is now a%variation comparing the prior year-to-date with the current year-to- <br /> date amounts. (This replaced the %variance of the prior year-to-date actual with the <br /> prior year-to-date budget amounts.) <br /> Electric P&L <br /> September's electric kwh sales (for August usage) are down 3.5%overall from the prior <br /> year as a result of unseasonably cooler weather. This has been an unfortunate trend this <br /> year. For further breakdown: <br /> • Residential usage is down 11.8% <br /> • Small Commercial usage is down 3.2% <br /> • Large Commercial usage is up 1% <br /> September Operating Revenue of$2,946,881 is over the prior year by.65%however, <br /> year-to-date is up 5.5%and over year-to-date budgeted numbers by 1%. <br /> We did not collect a PCA from customers in September and so the year-to-date amount <br /> collected remains at$333,676 in PCAs (15 mils)). (Remember that the financials are <br /> reflecting the transfer from reserves of$500,000 to offset the PCAs that we are <br /> absorbing. This is shown, on a pro-forma basis, as a transfer to Revenue and distribution <br /> from Equity,to represent in the financials the reserve allocation that normally occurs at <br /> the end of the year. The line item is Other Revenue/CIP/Rate Increase/AC Credit.) <br /> Other Revenue is down this month 10% from the prior year, and 10% above the year-to- <br /> date budgeted amount. <br /> • Interest and dividend income is less than the prior year <br /> • The Landfill is performing better, but not enough to offset other deficits. <br /> • Connection Fees are down from the prior year. <br /> • 2013Misc Revenue had a gain on disposition of$8,000, and higher scrap sales. <br /> Overall, Total Revenues are just under the prior year by$1,031 or.03%, and increased <br /> 5.4%year to date, and are ahead of budget by 1.5%. <br /> The total purchased power cost of$2,198,266 is down 14.6% from last year. The PCA <br /> included this month in our power bill was a credit $59,651, for a year-to-date <br /> accumulated PCA of$772,677. As mentioned above,we did not charge our customers a <br /> PCA in September. <br /> 34 <br />